The US stock markets are heading downwards on Tuesday. While the US leading index Dow Jones is heading towards its ninth day of losses in a row, the Nasdaq 100 is also having to give up after the rally from the previous day. The S&P 500 is also heading downwards. However, there are profits again on the crypto market.
Around two hours before the US stock market closes, the Dow Jones lost almost 0.8 percent to 43,390 points. This means that the US leading index is heading for its ninth day of losses in a row. UnitedHealth is down four percent at the Dow Jones end, while sporting goods manufacturer Nike is gaining 1.6 percent. However, investors are keeping a low profile ahead of the US Federal Reserve's interest rate decision tomorrow, Wednesday.
Investors are also focusing on new economic data today, including a unexpected decline in US industrial production and stronger-than-expected increases in retail sales. However, Landesbank Helaba sees the latter as no reason for the US Federal Reserve to deviate from the announced rate cut course this week. Market participants continue to assume that the US Federal Reserve will cut its key interest rate by 0.25 percentage points on Wednesday.
In front of the Nasdaq 100
(WKN: A0AE1X)
For the Nasdaq 100, however, it fell by 0.5 percent to 21,987 points. This means that the technology index falls just below the 22,000 point mark. The big losers include Marvell Technology (minus 8.6 percent), Broadcom (minus 5.1 percent) and T-Mobile US (minus 3.6 percent). However, all three stocks had also risen sharply in the past few days.
One of the winners in the Nasdaq 100 is Tesla shares, which rose by two and a half percent and continued their record rally. But ASML's ADRs also increased by a good two percent.
The market-wide S&P 500 fell by 0.4 percent to 6,049 points. Here, Fox shares lead the list of winners with an increase of 4.6 percent, ahead of Pfizer (plus 4.5 percent). However, things are falling sharply for Amentum Holdings (minus eleven percent) and Humana (minus nine percent).
Infront S&P 500
(WKN: A0AET0)
However, things are going up for cryptos: Bitcoin temporarily jumps above the $108,000 mark, while XRP is rising even more strongly with an increase of more than six percent. However, the crypto stocks Coinbase (minus 0.9 percent) and MicroStrategy (minus four percent) cannot escape the downward trend.
Contains material from dpa-AFX
